The number of existing homes for sale has continued to decline over the past few years. Simply put, this means there aren’t enough homes on the market for those who wish to buy. That’s good for some existing homeowners as it increases their home’s value, but it also makes it difficult for them to find another home, if they sell.…
As a result of the problems encountered in 2007 and 2008, the emphasis has been, and still is, on a housing market recovery through an improving economy, restoration of home values, and protecting consumers against predatory lending. Actions toward this end, include such things as: Placing Fannie & Freddie into a Conservatorship The Treasury investing in Mortgage Backed Securities Creation…
With all the sophisticated equipment and computer models forecasting, the weather is still not an exact science. It all depends on which way the wind blows. It seems that predicting mortgage default rates is about the same. According to recent reports on default risk: The Universal Financial Associates (UFA) Default Risk Index says it’s up 25% over 2016 Corelogic says…
Some experts are now saying that buying a home may not be the great wealth builder it once was. They say it may be better to rent a place to live and invest the intended down payment in the stock market. Yeah, like that’s such a sure bet. Who decided that buying a home was meant to be an ‘investment’?…
Okay, a little good news for a change. A CoreLogic report indicates that to date about 9 million current homeowners have regained positive home equity. Residential property owner’s still carrying negative equity is down to about 3.1 million. Some highlights of the report: 635 of homeowners realized a $7.66 billion increase in the last year On average, each homeowner saw…
With times being a little tough for many lenders, I hate to bring up anything negative about potentials for increased lending, but I will. Although there is a shortage of homes in the range that would be considered as affordable, there is currently quite a bit of activity from first-time homebuyers resulting from the many low down payment programs and…
